November 29, 2016 - By Peter Kolinski
Philip Mchugh; that is an insider in Fifth Third Bancorp who is the latest to sell shares in the corporation for which he is at present the Executive Vice President. Philip not a long ago unloaded 18,619 shares of the company, at an approximate value of $489,307 US Dollars, that is a price for each share of around $26.3. It seems he is very active lately as in the last month, he sold additional 29,777 shares of the company, worth $764,673 USD. Philip Mchugh now has ownership of 0.02% of Fifth Third Bancorp’s stock market capitalization with ownership of 140,026 shares.
Out of 26 analysts covering Fifth Third (NASDAQ:FITB), 5 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 19% are positive. $25 is the highest target while $16 is the lowest. The $21.38 average target is -15.76% below today’s ($25.38) stock price. Fifth Third has been the topic of 46 analyst reports since July 22, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of FITB in a report on Wednesday, October 21 with “Outperform” rating. The rating was upgraded by Stephens on Tuesday, March 8 to “Overweight”. The rating was downgraded by Jefferies to “Hold” on Friday, October 7. The rating was downgraded by Nomura on Monday, October 10 to “Reduce”. Bernstein upgraded Fifth Third Bancorp (NASDAQ:FITB) on Wednesday, August 26 to “Mkt Perform” rating. The stock has “Hold” rating given by Sandler O’Neill on Monday, January 4. The firm has “Neutral” rating by Citigroup given on Wednesday, July 22. The firm has “Neutral” rating by Guggenheim given on Wednesday, October 21. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned “Neutral” rating by JP Morgan on Thursday, April 7. Jefferies maintained the shares of FITB in a report on Friday, May 27 with “Buy” rating.
Insitutional Activity: The institutional sentiment decreased to 0.69 in 2016 Q2. Its down 0.19, from 0.88 in 2016Q1. The ratio is negative, as 45 funds sold all Fifth Third Bancorp shares owned while 206 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 598.84 million shares or 1.34% less from 606.99 million shares in 2016Q1.
Sun Life Fincl holds 0.05% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 22,502 shares. Blackrock Japan last reported 0.06% of its portfolio in the stock. Convergence Prns Limited Liability Company accumulated 0.35% or 146,446 shares. California Pub Employees Retirement Systems owns 2.61 million shares or 0.07% of their US portfolio. New Mexico Educational Retirement Board, a New Mexico-based fund reported 89,430 shares. Pzena Ltd last reported 0.41% of its portfolio in the stock. Putnam Investments Limited Liability Company reported 18,022 shares or 0% of all its holdings. Fjarde Ap owns 186,370 shares or 0.08% of their US portfolio. Moreover, Hancock Hldg Com has 0.11% invested in Fifth Third Bancorp (NASDAQ:FITB) for 145,251 shares. Macquarie Gp Limited accumulated 419,950 shares or 0.01% of the stock. Winslow Evans & Crocker accumulated 139,872 shares or 0% of the stock. Herndon Management Ltd holds 71 shares or 0% of its portfolio. Winton Capital Limited holds 1.86M shares or 0.54% of its portfolio. Shoker Investment Counsel Inc reported 14,398 shares or 0.22% of all its holdings. Perkins Inv Mngmt Limited Co holds 3.75M shares or 1% of its portfolio.
Insider Transactions: Since November 10, 2016, the stock had 0 insider purchases, and 8 insider sales for $4.20 million net activity. Spence Timothy also sold $578,750 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, November 10. On Thursday, November 10 the insider Leonard James C. sold $510,355. CARMICHAEL GREG D sold $924,575 worth of stock or 36,821 shares. Borton Chad M sold 20,898 shares worth $496,341. The insider McHugh Philip sold 29,777 shares worth $764,673. Tanner Teresa J. also sold $82,701 worth of Fifth Third Bancorp (NASDAQ:FITB) on Friday, November 18. The insider Forrest Frank R. sold $430,547.
The stock decreased 2.91% or $0.76 during the last trading session, hitting $25.38. About 9.96 million shares traded hands or 10.91% up from the average. Fifth Third Bancorp (NASDAQ:FITB) has risen 41.07% since April 25, 2016 and is uptrending. It has outperformed by 35.05% the S&P500.
Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $19.07 billion. The Firm conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States. It has a 11.31 P/E ratio. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.
According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.”
Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on January, 19. They expect $0.43 EPS, up 4.88% or $0.02 from last year’s $0.41 per share. FITB’s profit will be $323.09M for 14.76 P/E if the $0.43 EPS becomes a reality. After $0.65 actual EPS reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.
More important recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Businesswire.com which released: “Fifth Third Bancorp Announces Net Exercise of Vantiv Warrant and Associated ..” on November 22, 2016, also Nasdaq.com published article titled: “Fifth Third Bancorp Reaches Analyst Target Price”, Nasdaq.com published: “Strategy To YieldBoost Fifth Third Bancorp From 2% To 12.9% Using Options” on November 22, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) was released by: Nasdaq.com and their article: “The Zacks Analyst Blog Highlights: Wells Fargo, Bank of America, Fifth Third ..” with publication date: November 28, 2016.
Fifth Third Bancorp, incorporated on October 7, 1974, is a bank holding firm and a financial holding company. The Firm conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Firm diversifies its loan and lease portfolio by offering a range of loan and lease products with various payment terms and rate structures. It offers commercial and industrial loans, commercial mortgage loans, commercial construction loans, commercial leases, residential mortgage loans, home equity, automobile loans, credit card, and other consumer loans and leases. The Firm offers various types of deposits, such as demand deposits, interest checking deposits, savings deposits, money market deposits, transaction deposits and other time deposits. The Company’s total deposits are approximately $103 billion. The Company’s total loans are approximately $93 billion.
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